Co-founder of the private-equity firm The Carlyle Group weighs in on 2020
Co-founder of the private-equity firm The Carlyle Group, David Rubenstein, claimed that Wall Street “would probably say that the chances are pretty good” that Donald Trump will “get re-elected,” according to a Fox News report earlier this month.
Speaking with FOX Business’ Neil Cavuto, Rubenstein said rump is “obsessed with making certain the economy stays strong.”
In November alone, America created 266,000 new jobs, according to new figures released earlier this month.
The data revealed a record-breaking economy, despite earlier fears from critics of Trump of a possible recession in 2019 under his leadership.
The unemployment rate fell to 3.5 percent in November, matching the lowest level in 50 years, after 266k American jobs were added to the U.S. economy for the month.
In October, Neon Nettle reported unemployment figures in America dropped to the lowest levels since 1969, according to new US employment data.
Trump’s booming economy created 136,000 American jobs in September, with the unemployment rate falling to just 3.5 percent.
Also, consumer sentiment hit its highest level in a year.
Greg Valliere, the chief U.S. policy strategist at Ontario, Canada-based AGF Investments, said:
“After a number like we got today, that non-farm payroll number of 266,000 and the fact that the Democrats, I think, are going to fail in their impeachment gambit, Trump’s the favorite.”
“Everywhere you look right now, it’s Goldilocks, an economy that’s in really good shape and no inflation to speak of and very, very low-interest rates,” Valliere added.
The benchmark S&P 500 has rallied 47 percent since Trump beat Hillary Clinton in 2016.
The index also gained more than 25 percent in 2019 alone, despite the Democrat’s impeachment proceedings.
“The bottom line for the markets is that the impeachment story has been background noise and not much more,” Valliere said.
As big money investors place her bets on Trump for 2020, the Wells Fargo Investment Institute says it’s too early to predict.
“In years when the incumbent party wins the presidential election, the equity market rally has been stronger than for the average of all U.S. election years,” the institute said.
“Stock prices tended to stumble into the year’s second half when the incumbent party lost the presidential election.”
“One of the things that I think all presidents recognize is that presidents who are running for reelection in recessions do not tend to get reelected,” Rubenstein said.